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An online tradie marketplace and Software-as-a-Service (SaaS) provider has taken a stake in a property management technology platform.
A 25 per cent interest in the issued share capital of Bricks + Agent has been acquired by hipages for $6.25 million, with both groups seeing the move as “unlocking the tradie economy”.
An ASX-listed entity, hipages has touted Bricks + Agent as providing them with exposure to 360,000 users, 21,000 tradies, and the $21 billion property management market more broadly – both commercial and residential.
With offices in Australia and the UK, Bricks + Agent already boasts strategic partnerships with property management software providers, including MRI, Property Tree, and PropertyMe, and a blue-chip client base of property management agencies.
Commenting on the interest stake, which will see hipages CFO and COO Melissa Fahey join the Bricks + Agent board, hipages Group CEO and co-founder Roby Sharon-Zipser said they had been following Bricks + Agent’s progress for several years.
“Bricks + Agent is a great cultural match for hipages and fits perfectly with our strategy to expand into adjacent markets, and the $21 billion property management TAM is a huge opportunity for us.
“Having founded hipages 17 years ago and have learned my fair share of lessons along the way, I’m excited to partner with another founder-led company to achieve our ambitious goals together.”
For Bricks + Agent CEO and co-founder Rafael Niesten, the business had “reached a point where the time is right to accelerate our growth plans to capture the huge opportunity we have ahead of us”.
“To be able to leverage the scale and expertise of a founder-led company like hipages, which has an entrepreneurial culture like ours, is amazing, and we’re really looking forward to working with Roby and the hipages team to continue to change the game in property management.”
